Consumer spending increased in June, but sales increases in part have been a result of rising prices and inflation pressures of core goods, not the consumption of more product. Several retail segments—especially key hard goods categories—are starting to see slowing sales.
The swirling currents in the US economy have resulted in a series of compounding challenges for companies in the retail and consumer space, given current expectations for high inflation, high interest rates, supply chain challenges, and low consumer sentiment. Retail and consumer goods companies will need to address overall spend to improve efficiencies and productivity ahead of Q4, as cost increases continue to climb.
Download the July retail and consumer summary.
Download previous summaries from 2022:
Find out more at the BRG Retail Insights blog.